June 25 (Bloomberg) -- General Motors Corp., rushing to emerge from bankruptcy as a profitable automaker, can’t keep up with demand for the 2010 Chevrolet Camaro sports car.

GM has filled about half the 25,000 Camaro orders taken, said Terry Rhadigan, a GM spokesman. Dealers, staggered by GM’s 42 percent U.S. sales decline in the first five months of the year, report that the new vehicles sell within days. Analysts say they sell for about $500 more than sticker price on average.

“I won’t have a stocked Camaro for probably a year,” said James Schmid, general sales manager at Bartow Chevrolet in Bartow, Florida. His Chevy dealership sold both its showroom Camaros at list price within a day of arrival, he said. That’s in addition to 18 custom orders the dealer filled.

GM said it began producing the muscle cars in March, and it sold 5,463 in May, according to industry researcher Autodata Corp. of Woodcliff Lake, New Jersey. The Camaro competes with Ford Motor Co.’s Ford Mustang and Chrysler Group LLC’s Dodge Challenger.

The Camaro may benefit from its use as Bumblebee in the movie sequel “Transformers: Revenge of the Fallen,” which opened in theaters yesterday.

GM describes the Camaro as having a “taut, athletic design” that builds off the 1960s version.

No Incentives

The Camaro starts with a sticker price of $23,040 for the LS model with a V-6 and GM isn’t offering incentives, Kelley Blue Book reports.

“It is actually commanding a premium right now, as it is selling slightly above MSRP,” said Joanna McNally, a Kelley Blue Book spokeswoman. “Camaros are currently selling for nearly $500 above MSRP.”

The sports car, made in Oshawa, Ontario, is available with a 3.6-liter, direct-injected V-6 engine or a 6.2-liter V-8. When powered by the V-6, the Camaro is rated at 29 miles per gallon on the highway and 18 mpg in the city with an automatic transmission.

“The moral of the story is: design still sells,” said Erich Merkle, an independent auto analyst. “The American automakers can make a comeback if they keep their eye on the ball and design vehicles people have to have.”

Scott Montgomery, general manager at Les Stanford Chevrolet Cadillac in Dearborn, Michigan, said the Camaro is a bright spot in a difficult time. Chevrolet sales in the U.S. fell 39 percent in the first five months of the year.

The dealership has sold 15 or 20 Camaros, and new arrivals will move in a matter of hours, not days, Montgomery said.